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With the US facing a huge slowdown in hiring, it’s a tough time to look for a job. Many employees are staying put rather than changing jobs to get better pay. Artificial intelligence tools are increasingly examining applicants’ resumes. Now may seem like an inappropriate time to request a raise.
But sustainability doesn’t mean wages and salaries have to stagnate. Career experts say that even in a wavering economy, it is not wrong to say that you should get as much salary as you want. According to some experts, salary increases are not necessary in organizations that are downsizing.
“Many people think that if their company has laid off, the chances of getting a pay raise are very slim,” said Jamie Cohn, a senior director of the human resources practice at business research and advisory firm Gartner. “And that may be true, but another way to think about it is that this company has already decided to reinvest in you by keeping you.”
When should you ask?
If you’ve taken on larger responsibilities at work and received strong performance reviews, or if you’ve discovered that you’re paid significantly less than colleagues or competitors with the same level of experience, it may be the right time to ask for a salary adjustment.
“They know you’re taking on more work, especially if there have been layoffs on your team,” Cohn added. “At that time, it’s very hard for them to lose an employee that you know they’re relying on so much now.”
Another sign that it’s time to ask for an adjustment, said Rodney Williams, co-founder of community finance platform Solo Funds, is if you’re working a second job to make ends meet or your current financial situation is causing anxiety that’s impacting job performance.
“There’s nothing wrong with saying, ‘Hey, I need to step up my financial situation. I’m willing to do more,'” Williams said. “I’m willing to come earlier, I’m willing to go later, I’m willing to help, maybe, and do other things here.”
Some people consider asking for higher compensation to be less risky than switching to a new job. “There’s a sense of not wanting to be ‘last in, first out’ in a potential layoff situation,” Cohn said.
know your worth
Before starting compensation negotiations, do some research on current salaries. You can find out what people with comparable experience are doing in your industry by searching on websites like glass doorwhere people self-report salaries, or ZipRecruiter, which aggregates salary data from job postings and other sources.
Three years ago, many asked for a 20% pay raise because of price inflation and high employee turnover resulting from the coronavirus pandemic, Cohn said. Companies are no longer considering such a big jump.
“Right now, I guess you can say you’re worth 10% more, but you’re unlikely to get a 10% pay rise if you ask for it,” he said.
Your success also depends on your recent performance reviews. “If you’ve been given additional responsibilities, if you’re working at a level that would be a promotion, there may be situations where it may make sense to ask for a higher amount,” Cohn said.
Compare notes with colleagues
Many people consider this topic taboo, but telling coworkers what you earn and asking if they earn more can prove instructive. Trusted colleagues in similar roles are potential sources. People Cohn said those who have recently been hired or promoted can give an idea of the market rate.
“You can say, ‘Hey, I’m trying to make sure I’m being paid fairly. Are you making more or less than X dollars?’ This is one of my favorite phrases to use, and it invites people to have a healthy discussion,” said Sam DeMase, career expert at ZipRecruiter. “People are more interested in talking about salary than you think.”
You can also reach out to people who have left the company, DeMage said, who may be more willing to compare salaries than current coworkers.
brag sheet
Keep track of your achievements and positive feedback on your work. Compile it into one document, which human resources professionals call a “brag sheet,” DeMess said. If you’re making your request in writing, list those accomplishments when asking for a pay raise. If the request is made in a conversation, you can use the list as a talking point.
Be sure to list any tasks or responsibilities that aren’t typically part of your job description. ,employers We want employees to do more with less, so we need to document all the ways we are working outside the scope of our jobs,” DeMage said.
Also take stock of the unique skills or qualities you bring to the team.
“People value our employers’ choices more,” said Emily Epstein, CEO of Oakbay Consulting, who teaches negotiation courses. Harvard University and University of California, Berkeley. “We recognize that they can hire a long line of people, but it may be that we bring particular expertise to our roles, something that will be hard to replace.”
time matters
Don’t ask for a raise when your boss is hungry or at the end of a long day, because the answer is more likely to be ‘no,’ advises Epstein, whose company offers training on communication, conflict resolution and other business skills. That said, if they’re well-rested and feeling good, you’re more likely to succeed.
Epstein said it’s probably easier to get a raise in fast-growing fields like cybersecurity, whereas it may be harder to get a raise if you work in an industry where positions are decreasing.
Similarly, waiting for the right moment runs the risk of missing the opportunity to advocate for yourself.
“You can wait your whole life for your boss to get better or for a lot of resources,” Epstein said. “So don’t wait forever.”
Answering “No”
If your request is denied, doing so can help set the stage for future negotiations.
Ask your manager what makes it difficult to say yes, Epstein suggested. “Is this the example you’re setting for this position that may be difficult to live up to? Is this being fair to other people in my position? Is this the company struggling right now?” He said.
Ask when you can revisit the conversation and if you can get that deadline in writing, DeMase said.
Laura Creller, executive assistant at a university louisianaRecently earned a master’s degree and has asked to change his job description to reflect greater responsibilities and a higher salary than expected. His boss was kind but turned him down citing lack of funding. Creller said he has no regrets.
“I’m proud of myself for doing that,” he said. “It’s better to know where you stand.”
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Share your stories and questions about workplace wellness at cbussewitz@ap.org. Follow AP’s Be Well coverage, focusing on wellness, fitness, diet and mental health at https://apnews.com/hub/be-well.